ECCR celebrates its first 25 years
Supporters and partners gathered at Southwark Cathedral on October 22nd to celebrate ECCR's Silver Anniversary. The afternoon began with a Thanksgiving Service at which ECCR Patron Bishop Richard Harries preached on what has been achieved so far, and the many challenges which remain. His sermon can be found here. ECCR’s other Patron, Bishop William Kenney, gave the Blessing.
The Order of Service, which contains resources which may be more generally useful in acts of worship, can be found here.
This was followed by a Panel Debate on "Investing in Equality", led by Catherine Howarth from ShareAction, former M.P John Battle, and Toby Quantrill from Christian Aid.
ECCR calls on investors to tackle pay inequality
To mark its
25th anniversary, the Ecumenical Council for Corporate Responsibility
(ECCR), the church investor advocacy coalition has released a report
'Using Ethical Investment to Close the Gap', a radical call to action
for the investor community to use their ownership responsibilities to
address ever increasing levels of wealth inequality in the UK.
John Arnold, Executive Director of ECCR, said "For too long investors have presided over a corporate system that over-rewards the elite whilst leaving many employees at poverty level. We want individual and institutional investors to join their church investor colleagues, and revisit their responsibilities, as owners of businesses, to challenge companies to tackle low pay and insecure work."
Acknowledging that one in five British workers are paid below a "living wage" and - in the same financial year – the average FTSE 100 Chief Executive Officer earned £4.7 million, the far-reaching report calls for FTSE AllShare companies to:
- Ensure that all staff working on their premises, be they employees or subcontractors, are paid a living wage
- Provide greater transparency on differences in pay by disclosing the extent to which senior executive pay exceeds average employee pay.
Bishop Michael Doe, Chair of ECCR, stated that "As we approach a General Election there needs to be a concerted effort by Christians and others to show that an increasingly unequal society is bad for the people involved (whether they are at the top, or pushed to the bottom by the declining value of wages and benefits), for society as a whole, and often for business itself."
25th Anniversary Service & Panel Debate
Southwark Cathedral, October 22nd 2014
You are invited to join us at Southwark Cathedral in Good Money Week to celebrate ECCR's 25th Anniversary, to learn about our on-going work and meet with others working to keep faith in finance.
A joint report with Rathbone Greenbank Investments
Throughout the summer of 2013, we met with senior representatives from six of the UK’s
leading retail banks including Barclays, HSBC, and RBS to review the five key challenges facing
the banking sector today, namely:
- Regulatory action and culture change
- Tax policy and practices
- Social and environmental risks in project and corporate finance activities
- Regional lending
- Access to finance
The aim of our latest report The Banks and Society: Trust Rebuilt? is to provide a snapshot of performance across the five areas, in order to inform debate and provide a foundation for interested stakeholders wishing to understand the issues or engage with the banks themselves.
Don’t just read our view, have your say on Twitter: #trustrebuilt
Other ECCR Reports
ECCR's Executive Director John Arnold was quoted in US partner ICCR's press release following ECCR's endorsement of their Statement of Principles and Recommended Practices for Confronting Human Trafficking and Modern Slavery publicised on International Human Rights Day (10 December 2013).
ECCR has joined with Quaker Peace and Social Witness to provide a new website Your Faith Your Finance to help people and churches consider the ethical questions around what to do with their money, providing information and resources to help decision-making.
ECCR together with partners UKSIF and CCLA have produced a comprehesive range of ethical investment worship resources for churches . Read more & download resources.
ECCR held a lively and informative Open Debate on this issue in National Ethical Investment Week 2013. Read more and download debate report.
ECCR partnered with Cardiff University Business School, CCLA, the Church in Wales, Fair Trade Wales and Shared Interest to offer this conference for National Ethical Investment Week 2013. Read more and download conference report.
This briefing, produced with support of CCLA, discusses concerns that exposure to pornography can have a detrimental impact on children. It highlights what FTSE 100 telecommunications companies are already doing to safeguard children and suggests the next steps they might take.
ECCR recommendations affirmed by Banking Commission
The Parliamentary Commission on Banking Standards has effectively endorsed many of the recommendations made by ECCR's 2011 Banks and Society report. Read more.
John Arnold, ECCR Executive Director, offers his perspective on the Round Table discussions and launch of the FPIC Advocacy Paper.
In the two years since ECCR published the report Hotel, Sex Trafficking and London 2012, two FTSE listed hotel companies have taken significant steps to address this crime.
The Publish What You Pay (PWYP) coalition, of which ECCR is a member, and Friends of the Earth Europe recently launched a high-profile advert in the Financial Times urging key European decision makers to adopt strong oil, gas, mining and logging transparency laws in the face of fierce opposition from the oil industry.